Year 1 2 Sales (Revenues) 125,000 125,000 - Cost of Goods Sold (50% of Sales) 62,500 62,500 - Depreciation 25,000 25,000 = EBIT 37,500 37,500 - Taxes (20%) 7,500 7,500 = unlevered net income 30,000 30,000 + Depreciation 25,000 25,000 + changes to working capital - 5,000 - 5,000 - capital expenditures - 90,000 The net present value (NPV) for Epiphany's Project is closest to: O A. $81,536 O B. $40,768 C. $20,384 D. $122,304 0 3 125,000 62,500 25,000 37,500 7,500 30,000 25,000 10,000 Year 1 2 Sales (Revenues) 125,000 125,000 - Cost of Goods Sold (50% of Sales) 62,500 62,500 - Depreciation 25,000 25,000 = EBIT 37,500 37,500 - Taxes (20%) 7,500 7,500 = unlevered net income 30,000 30,000 + Depreciation 25,000 25,000 + changes to working capital - 5,000 - 5,000 - capital expenditures - 90,000 The net present value (NPV) for Epiphany's Project is closest to: O A. $81,536 O B. $40,768 C. $20,384 D. $122,304 0 3 125,000 62,500 25,000 37,500 7,500 30,000 25,000 10,000